Regulator against suspension of fair-value accounting rules

03/12/2009 | Reuters

Kevin Bailey, deputy comptroller of the currency, testified at a congressional hearing that the regulator is opposed to suspending mark-to-market accounting rules, although he said that some adjustments may be necessary. Bailey said the rules provide the most accurate estimate of the value of financial instruments. "While additional steps can and should be taken to enhance existing standards, the OCC believes that it is inappropriate to suspend current fair-value measurement," he said.

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